Depending on how much you care about visuals, yeah.

A decent GPU will often be the price of an entire console. That said, even if you go with high-end hardware I found that eventually the cost will make up for itself for not having to pay for PSN to make use of and play on the internet. Or the fact that games are very often priced up to 50% more on the PS store than those on PC because there are no competing stores.